February 27, 2024

Loan Business

Prints Business

Chelmsford Corporations Obtained $97.4M In Federal Coronavirus Loans

CHELMSFORD, MA — Providers in Chelmsford been given $97.4 million in mortgage approvals less than the federal Paycheck Safety Application, in accordance to facts produced Tuesday by the Modest Business Administration.

The financial loans went to 674 companies and ranged from $500 to $10 million. Candidates reported the financial loans would assist them protect 6,199 positions in Chelmsford.

The information unveiled this week features all financial loans beneath the system handed in March as the coronavirus pandemic took maintain and forced prevalent organization closures and layoffs. SBA launched some bank loan information in July, but that details only confirmed loans more than $150,000 and did not include things like particular dollar quantities.

The Washington Put up, Bloomberg and other media businesses sued the SBA to launch the complete information established. In November, a federal choose ruled in favor of the media companies and purchased the SBA to release the details by Dec. 1. The data introduced Tuesday was latest as of Nov. 24 and consists of updates to the knowledge produced in July.

PPP financial loans are aspect of the CARES Act, a complete COVID-19 reduction bundle Congress handed in the spring. The loans are forgivable as lengthy as a sure share is utilised for payroll. The application stopped taking new programs in August, but enterprise groups are pressuring federal lawmakers and the Trump administration to renew the application.

In Chelmsford, the top rated financial loans went to:

  • $10,000,000 HARTE HANKS INC. 2 Executive Travel
  • $3,426,000 LIFELINKS INC. 4 OMNI WAY
  • $3,261,100 M.D.C Management CO., LLC (MCDONALD’S Eating places) 160 Turnpike Rd
  • $2,639,830 J&L CABLE T.V. Products and services INC 190 Middlesex Road
  • $2,504,610 BY APPOINTMENT ONLY INC 300 Apollo Dr Ste 2
  • $2,228,900 TH MCCOY Restaurant Group, LLC 10 JEAN AVE
  • $1,994,093 HUB Basis CO, INC. 139 Billerica Road
  • $ 1,492,077 TRITON Programs INC 200 Tnpk Rd

Statewide, there ended up almost 118,000 financial loans totaling $14.27 billion. In their loan purposes, the businesses that received the financial loans mentioned they would help protect 1.17 million positions in Massachusetts.